The tariffs could be complicated as even U.S. automakers source their components from around the world, meaning that they could face higher costs and lower sales.
WASHINGTON — President Donald Trump said Wednesday he was placing 25% tariffs on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains.
“This will continue to spur growth,” Trump told reporters. “We’ll effectively be charging a 25% tariff.”
The tariffs, which the White House expects to raise $100 billion in revenue annually, could be complicated as even U.S. automakers source their components
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